S&N could receive improved offer

February 25, 2008: American brewing giant Anheuser-Busch is said to be considering a counter offer for Scottish & Newcastle (S&N).

S&N has agreed a takeover by a Carlsberg Heineken consortium on January 25, but it is felt the board may consider a better offer. Another was thought to be imminent from SABMiller last week, but turned out to be speculation.

The fact that S&N has not acted to stop potential legal action against Carlsberg over what it sees as a breach of contract regarding their Baltic Beverages Holdings joint venture is seen by commentators as indicative that the board may look at better offers.

Anheuser-Busch has not commented on the speculation.